Engineers Gate Manager LP raised its position in Mesa Laboratories, Inc. (NASDAQ:MLAB) by 32.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,040 shares of the medical instruments supplier’s stock after acquiring an additional 505 shares during the quarter. Engineers Gate Manager LP owned approximately 0.05% of Mesa Laboratories worth $379,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Mesa Laboratories during the second quarter valued at about $12,064,000. Conestoga Capital Advisors LLC increased its position in shares of Mesa Laboratories by 10.9% during the third quarter. Conestoga Capital Advisors LLC now owns 475,439 shares of the medical instruments supplier’s stock valued at $88,251,000 after buying an additional 46,717 shares during the period. BlackRock Inc. increased its position in shares of Mesa Laboratories by 11.3% during the second quarter. BlackRock Inc. now owns 210,585 shares of the medical instruments supplier’s stock valued at $44,449,000 after buying an additional 21,299 shares during the period. Millennium Management LLC purchased a new position in shares of Mesa Laboratories during the second quarter valued at about $3,888,000. Finally, Royce & Associates LP increased its position in shares of Mesa Laboratories by 18.2% during the second quarter. Royce & Associates LP now owns 102,430 shares of the medical instruments supplier’s stock valued at $21,621,000 after buying an additional 15,778 shares during the period. Hedge funds and other institutional investors own 72.88% of the company’s stock.
Several brokerages recently issued reports on MLAB. TheStreet cut shares of Mesa Laboratories from a “b-” rating to a “c” rating in a research report on Tuesday, August 21st. BidaskClub cut shares of Mesa Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, ValuEngine upgraded shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, October 23rd.
Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.14. Mesa Laboratories had a negative net margin of 1.60% and a positive return on equity of 16.65%. The company had revenue of $24.87 million for the quarter, compared to analysts’ expectations of $25.00 million. As a group, equities analysts predict that Mesa Laboratories, Inc. will post 7.09 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Thursday, November 29th. Mesa Laboratories’s dividend payout ratio (DPR) is presently 10.36%.
In other Mesa Laboratories news, Director Seg Ventures, Llc acquired 20,000 shares of the business’s stock in a transaction on Sunday, December 30th. The shares were acquired at an average price of $23.10 per share, for a total transaction of $462,000.00. Following the completion of the acquisition, the director now owns 120,000 shares in the company, valued at $2,772,000. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David M. Kelly sold 700 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $190.01, for a total transaction of $133,007.00. Following the completion of the sale, the director now owns 3,600 shares in the company, valued at approximately $684,036. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 90,000 shares of company stock worth $2,097,600. Corporate insiders own 15.00% of the company’s stock.
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Mesa Laboratories Profile
Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.
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